# 1 (Houston)

Affordable: 64 Total: 225 % Affordable: 28%

Council District (Member)

Property NameProperty Address

The Rail at MLK Jr Station1800 Alexander Ave, Austin TX 78702

CT 8.03 BG 1Units

Census Tract and Block Group

40 yrs 2058

Requested Funding Amount

Affordability Period/Period EndsEstimated Total Project Cost $32,500,000

Approve the negotiation and execution of a loan agreement with Lonestar Development Partners, LLC, or an affiliated entity, in an amount not to exceed $2,500,000, for an affordable, multi‐family rental development to be known as the Rail at MLK Jr. Station, located within the MLK Transit‐Oriented Development District at East 17th Street and Alexander Avenue.AHFC Agenda Item # 4

Funding Amount Per Unit$2,500,000$39,063

City of AustinNeighborhood Housing and Community Development

Cost/Benefit Analysis

The Rail at MLK Jr Station Apartments1800 Alexander Ave 

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Education: MODERATE

Comprehensive Index: LOW

Number of Jobs4

Sources: ¹ Walkscore.com, ² Kirwan Institute, Central TX Opportunity Maps, ³ Texas Education Agency,  4 US Census, On the Map (2013), 5 HUD CPD Maps (using 2007‐2011 ACS data)Number of Rental Units5

470270

2%

4%

7% affordable to 30% MFI 13% affordable to 50% MFI17% affordable to 50% MFI 25% affordable to 80% MFI

60% affordable to 80% MFI

Walk Score¹

School Accountability Rating (2015)3

Number of Moderate Income Households5

32% affordable to 100% MFI

Bike Score¹Transit Score¹

Percentage of Severely Cost Burdened Moderate Income Households5

Percentage of Moderate Income Households with Substandard Housing or Overcrowding5

Percentage of Severely Cost Burdened Low Income Households5

Elementary: Campbell (met standard)

Housing & Environment: VERY LOW Economic & Mobility: HIGH

77 (very bikeable)51 (good transit)

Benefits/Qualitative Information

40%

Information Below by Census Tract

70%Number of Owner Units5

Number of Low Income Households5

Percentage of Low Income Households with Substandard Housing or Overcrowding5

Median Family Income (MFI)5 $52,037 352

Project Characteristics  ● Property is located in a Transit Oriented District (TOD), adjacent to the MLK Jr. MetroRail Sta on.● Two Hundred Twenty‐five (225) units in total, including Sixty Four (64) Affordable units at 50% MFI and below.● The Rail at MLK Jr. Sta on will have 3 Permanent Suppor ve Housing (PSH) units.● Fi een units will be made accessible for persons with mobility disabili es, and at least 3 units will be made accessible for persons with hearing and sight disabilities.● Lonestar Development Partners has obtained wri en agreements from Aus n Habitat for Humanity to provide homebuyer education and financial literacy services and the Council on Recovery to recruit PSH residents and provide supportive services.● Unit mix:   64 studio/one‐bath units                   Affordable Units                       44 studio/one bath units                   Market Rate Rents                       101 one‐bedroom/one bath units    Market Rate Rents                       16 two‐bedroom/two ‐bath units     Market Rate RentsPopulation Served● Three (3) units will be reserved for individuals with incomes at or below 30% of the Median Family Income (MFI), currently $16,150 for a single‐person household.● Three (3) units will be reserved for individuals or families with incomes at or below 40% MFI, currently $21,800 for a single‐person household and $30,700 for a 4‐person household.● Fi y‐two (52) units will be reserved for individuals and families with income at or below 50% MFI, currently $26,900 for a single‐person household and $38,400 for a 4‐person household.● One hundred sixty‐one (161) units will have no income restric ons.

57 (somewhat walkable)

Opportunity Index²Middle: Kealing (met standard) High: McCallum (met standard)

RouteEstimatedTrip Length

TransfersTotal Walking 

Distance (approx)

Healthcare Clinic/Urgent Care: Texan Urgent Care

1.2 mi 3607 Manor Rd 20 13 min 0 0.4 mi

Hospital: St David's Medical Center 1.9 mi 919 E 32nd St 20 22 min 0 0.4 mi

Pharmacy: Walgreens 1.3 mi 1144 Airport Blvd 350 14 min 0 0.5 mi

Education Day Care: Open Door Preschool 0.5 mi 2918 E MLK Jr Blvd

Day Care: Extend-A-Care for Kids 0.6 mi 2612 Rogers Ave 18 9 min 0 0.4 mi

Elementary School: Campbell 0.6 mi 2613 Rogers Ave 18 9 min 0 0.4 mi

Middle School: Kealing 1.7 mi 1607 Pennsylvania Ave 6 19 min 0 0.8 mi

High School: McCallum 4.5 mi 5600 Sunshine Dr 550 28 min 0 1.1 mi

Library: Willie Mae Kirk Branch 1.3 mi 3101 Oak Springs Dr 6 21 min 0 0.9 mi

Transportation Nearest Bus Stop < 0.1 mi MLK Station 464, 465

Nearest High Frequency Transit Line Stop

1.2 mi3308 Webberville/Bedford

300

Nearest Bike Share 2.1 mi 1106 E 11th 550 17 min 0 0.6 mi

Nearest Train Station: MLK Jr. < 0.1 mi 1719 Alexander Blvd

Other Amenities Bank: Wells Fargo 1.2 mi 1145 Airport Blvd 350 14 min 0 0.5 mi

Grocery Store: Arlan's Market 1.2 mi 1148 Airport Blvd 350 14 min 0 0.5 mi

Park: Chestnut Pocket Park 0.6 mi 2207 E 16th St 18 9 min 0 0.4 mi

Park: Downs-Mabson Fields 0.7 mi 2816 E 12th St

Park: Rosewood Neighborhood Park

1.0 mi 2300 Rosewood Ave

Community/Recreation Center: Chestnut Community Center

1.1 mi 1183 Chestnut Ave 320 14 min 0 0.6 mi

Source: Google Maps

Approx. Distance

Address

Transit Routes

City of AustinNeighborhood Housing and Community Development

Cost/Benefit Analysis

Rail at MLK Jr Station Apartments1800 Alexander AveAustin, TX 78702

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Amenities and Access Near Proposed Housing Development

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PROPOSED PROJECT:The Rail at MLK Jr. Station Apartments1800 Alexander Ave

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×Amenities Jobs

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Census Tract Job Concentration

Access

5-21 jobs/sq mi22-71 jobs/sq mi72-155 jobs/sq mi156-272 jobs/sq mi273-423 jobs/sq mi 0 0.2 0.4

Miles

Imagine Austin CorridorsImagine Austin CentersCensus tract analyzed for jobs

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!!! AHFC/HUD/TDHCA ±0 0.2 0.4Miles Basemap Source: Esri, 2015

Subsidized Housing Near Proposed Housing Development

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±Sources: HUD, 2015; COA, 2015Basemap Source: ESRI, 2015

PROPOSED PROJECT:The Rail at MLK Jr. Station Apartments1800 Alexander Ave

×

This map has been produced by the City of Austin for the sole purpose of geographic reference. No warranty is made by the City regarding specific accuracy or completeness.

Ö( Proposed Rail at MLK Jr. Station Apartments